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"China is a global games giant," Wehmeier said. "They produce amazing games, so we shouldn't be surprised that all of that is being eagerly consumed by Chinese gamers."

"Capharnaum was the surprise hit of the year," said Yang Hai, general manager for publicity and promotion at Alibaba Pictures. "This film basically tells the story of a Lebanese child who struggles to grow up with the heavy burden of life, and it is recognized as a realistic film masterpiece. The harsh reality reflected in this film has also caught a lot of attention."

"China may only initiate major monetary stimulus in the event of a drastic exacerbation of the external environment or a considerable slowdown in economic growth," Tang said.

"China has taken very dramatic actions to restrict the spread of the virus, and work is underway on a vaccine. So let's say for this quarter there will very likely be a negative impact. What would happen beyond this quarter we must observe and assess," Georgieva said.

"China is so integral to global supply chains for many products that a good portion - but not all - of the tariff impact will be passed onto US consumers. US firms will be the bigger losers," he added.